Cannabis stocks could see higher highs.
“Marijuana should be rescheduled as a Schedule III drug as the plant does appear to have medical uses and is less dangerous than other drugs, according to a just made public HHS document,” as noted by Seeking Alpha. “Addressing a 252-page review, HHS Assistant Secretary for Health Rachel Levine wrote that based on evaluations from FDA scientists, cannabis should become a Schedule III substance.”
As a result of that news, several cannabis stocks are being bid higher, including Curaleaf Holdings (CURLF – up 7%), Green Thumb Industries (GTBIF- up about 11%), and Trulieve Cannabis (TCNNF – up 9%) on the news.
According to CNN, “Rescheduling marijuana could open up more avenues for research, allow cannabis businesses to bank more freely and openly, and have firms no longer subject to a 40-year-old tax code that disallows credits and deductions from income generated by sales of Schedule I and II substances.”
Now, as we near the 2024 U.S. presidential election, there’s speculation we could see further action on legalization efforts.
![🧐 In this video, Dylan discusses a recent Bloomberg article that sheds light on the hidden dynamics within the crypto market.
[Bloomberg Article - https://www.bloomberg.com/news/articles/2024-05-15/crypto-deals-kol-investors-get-big-valuation-discounts]
From influencers to financial gurus, many key opinion leaders (KOLs) are being paid handsomely to promote certain cryptocurrencies, often leading to classic pump-and-dump schemes.
🚨 Buyer Beware: If you're investing in crypto, it's crucial to understand the game being played. As Dylan's grandfather used to say, "If you don't know who the patsy at the table is, you're the patsy." This timeless advice is more relevant than ever in today's volatile crypto landscape.
📈 Whether you're a seasoned investor or new to the crypto space, this video offers essential insights to help you navigate these murky waters. Dylan is not here to debate the legitimacy or utility of cryptocurrencies but to ensure you are aware of the tactics used to manipulate the market.
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